Challenging Economic Dogma: Debunking Economics with Steve Keen
Mike interviews Steve Keen.
In a riveting conversation, renowned economist Steve Keen delves into the heart of economic theory, challenging long-held beliefs and shedding light on the intricacies of our global financial system. Keen’s book “Debunking Economics: The Naked Emperor Dethroned” serves as a manifesto, urging readers to reconsider conventional economic wisdom.
SUMMARY
From the onset, Keen emphasizes the importance of understanding society as a complex system rather than relying on simplistic models. He argues that complete independence is a myth, highlighting how we are all interconnected within societies governed by rules and norms. Keen’s critique extends to libertarian ideology, exposing its flaws and advocating for a balanced approach that acknowledges centralized and decentralized systems within society.
One of the central themes of Keen’s discussion is the role of fiat currency and its impact on empires throughout history. He parallels the Roman Empire and other civilizations and explains how currency manipulation contributed to their downfall. Keen’s analysis of the United States’ monetary policies raises concerns about the sustainability of fiat currency in the face of excessive printing and devaluation.
Keen’s insights into the labour theory of value and Marxist economics add depth to the conversation. He shares his journey of challenging mainstream economic theories, particularly Marx’s labour theory of value. Through meticulous research and analysis, Keen exposes the fallacies within Marxist ideology, offering a nuanced perspective on the contributions of labour and capital to economic output.
As the discussion turns to cryptocurrency, Keen offers a critical perspective on Bitcoin and its implications. He questions its viability as a form of money, pointing out its speculative nature and unsustainable energy consumption. Keen’s skepticism underscores the need for careful consideration of technological innovations in the context of broader societal challenges.
The conversation takes a sobering turn as Keen addresses the looming threat of climate change. Drawing on scientific evidence, he warns of dire consequences if urgent action is not taken to mitigate carbon emissions. Keen highlights the role of politicians and mainstream economists in perpetuating denialism and obstructing meaningful climate policy.
Despite the gravity of the issues discussed, Keen maintains a sense of urgency tempered with rational analysis. His commitment to truth-seeking and evidence-based inquiry shines through, challenging listeners to confront uncomfortable truths and take action.
Steve Keen’s conversation offers a thought-provoking exploration of economics, society, and humanity’s existential threats. His book “Debunking Economics” serves as a rallying cry for intellectual honesty and critical thinking in the face of entrenched dogma. As we navigate an uncertain future, Keen’s insights serve as a beacon of clarity and reason in a world fraught with complexity and uncertainty.
Website: https://profstevekeen.substack.com/
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About Mike Fallat
Mike Fallat, aka The BookMan, is the owner of Dreamstarters Publishing and the Million Dollar Book Agency. They have helped 300+ entrepreneurs become bestselling authors. His goal is to help 1,000 entrepreneurs publish books and teach them how to use their books as a gateway to generating 7-figures.
Visit website for more information: https://www.milliondollarbookagency.com/
About Dreamstarters Publishing
Dreamstarters Publishing offers ghostwriting, cover design, and everything that is required to take an idea to a finished book (kindle, paperback, hardcover, and audiobook).
The Million Dollar Book Agency is the ultimate marketing CRM system for author-preneurs. Services include automated funnels, lead generation campaigns, book fulfillment, podcast management, press releases, virtual assistants, course development, and more.
Mike also hosts a podcast known as Million Dollar Stories and runs a membership-based site known as Million Dollar Circle. In addition to owning the book business, he invests in self storage real estate.
https://dreamstarterspublishing.com/